Well the problem is version 2.3 doesn't work very well either for some people.
It really is a constantly evolving piece of software, changes every couple of days.
They are trying to squash as many bugs as possible for the 2.4 release though and have announced feature freeze.
All the recent cvs versions work fine for me.
Divx, xvid, mp3, ogg all work no problem.
Ogm files have issues with the toal time not displaying right.
The bugs that are present should only affect certain users with specific needs.
If your lucky it could just be a couple of weeks. But it could be a month or even longer.
As far as treating your xbox like a console where verything works, well that is pretty much not gonna happen as long as you use homebrew software even with official point releases. But as long as your only looking to play sound and video files and are not looking for any advanced features then you shouldn't have any problems.